Recent Updates
- US: Consumer Sentiment (Jan-prelim), Mfg & Trade Inventories & Sales (Nov), IP & Capacity Utilization, Adv Retail Sales, Producer Prices (Dec)
- US: Industrial Production Detail (Dec)
- US: Producer Price Indexes by Commodity Detail (Dec)
- more updates...
Economy in Brief
Empire State Manufacturing Index Declines in January
The Empire State Manufacturing Index of General Business Conditions decreased to 3.5 in January...
U.S. Industrial Production Continues Recovery
Industrial production advanced 1.6% in December...
U.S. PPI Rose 0.3% in December
The Producer Price Index for final demand rose 0.3% (0.8% y/y) in December...
U.S. Business Inventories Accumulate during November as Sales Weaken
Total business inventories increased 0.5% during November (-3.2% y/y)...
The EMU Trade Surplus Stabilizes
Both exports and imports have been regaining momentum...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller August 21, 2018
Retail gasoline prices fell to $2.82 per gallon last week from $2.84 during the prior week. Despite recent declines, prices remained up 19.5% y/y. Haver Analytics constructs factors to adjust for the marked seasonal variation in prices. The seasonally-adjusted gasoline price fell to $2.76 per gallon, but remained up versus $2.60 late last year.
West Texas Intermediate crude oil prices fell to $66.13 per barrel (+39.2% y/y) last week from $67.91 in the previous week. WTI prices remained lower than the $73.71 peak early in July. Brent crude oil prices fell to $69.82 per barrel last week (+38.0% y/y) from a high of $78.75 three months ago.
Natural gas prices improved last week to $2.97/mmbtu (2.2% y/y), the highest level since early-February.
In the four-weeks ending August 10, gasoline demand fell 1.0% y/y; total petroleum product demand declined 1.6% y/y. Gasoline inventories increased 0.9% y/y, but inventories of all petroleum products fell 4.8% y/y. Crude oil input to refineries rose 0.7% y/y in the last four weeks.
These data are reported by the U.S. Department of Energy. The price data can be found in Haver's WEEKLY and DAILY databases. Greater detail on prices, as well as the demand, production and inventory data, along with regional breakdowns, are in OILWKLY.
Weekly Energy Prices | 08/20/18 | 08/13/18 | 08/06/18 | Y/Y % | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Retail Gasoline ($ per Gallon Regular, Monday Price) | 2.82 | 2.84 | 2.85 | 19.5 | 2.47 | 2.31 | 2.03 |
Light Sweet Crude Oil, WTI ($ per bbl, Previous Week's Average) | 66.13 | 67.91 | 69.46 | 39.2 | 50.87 | 43.22 | 48.90 |
Natural Gas ($/mmbtu, LA, Previous Week's Average) | 2.97 | 2.93 | 2.80 | 2.2 | 2.96 | 2.49 | 2.62 |